8. LOSS, DAMAGE AND STIPULATED LOSS VALUE: The tenant takes care of and bears all the risks of loss, theft, confiscation, expropriation, seizure, deterioration or destruction of the aircraft, an engine or part of it for any reason, unless these events are directly attributable to the serious negligence or intentional fault of the owner. If, for any reason, the aircraft or engine is worn, lost, stolen, seized, expropriated, seized, seized, destroyed, destroyed, irreparably damaged or becomes unusable (“accident deposit”), the tenant will notify immediately (but under no circumstances beyond 10 days from the date of such an accident) and notify the owner in writing. If the owner believes that there has been an accident that has involved only the engine or engines of the aircraft, the tenant, at his own expense and expense, replaces that engine (s) with an engine acceptable to the renter and leads to the transfer of ownership of that engine to the renter in order to lease it to the tenant under this lease agreement. When transferring ownership to the leaser of such (s) engine (s), this (s) (a) SO LONG AS NO EVENT OF DEFAULT EXISTS AND THE LEASE HAS NOT BEEN EARLIER TERMINATED, AND SUBJECT TO THE CONDITIONS SET FORTH IN SUBSECTION (b) BELOW, Debegriff can be used at least ninety (90) days before the payment date of the lease , choose to exchange the aircraft (the “old plane”) for another aircraft (the “New Plane”) by terminating the lease and contracting a new lease (the “new lease”) for the new aircraft. The communication is brought to the attention of Lessor`s asset management organization, 44 Old Ridgebury Road, Danbury, CT 06810-5105. (d) the registration and execution of documents by the lessor are not at the centre of concerns: (i) in violation of decisions, orders, laws or regulations applicable to the tenant or a provision of the foundation certificate or tenant`s statutes; or (ii) result in a violation of a late event or the creation of a pledge, commission, interest on property or other charge related to a mortgage, act of trust, bank credit or credit agreement or any other instrument (other than the lease) in which the tenant participates. This aircraft lease is effective DATE HERE (“the effective date”) between CHOCKS AWAY AVIATION, LLC (“the owner”) and THE WESTMINSTER AEROBATS FLYING CLUB, Inc (“the Club”), collectively known as “the parties”. (f) If this section 6 does not allow this, the tenant will not modify the aircraft, install or remove the accessories from the aircraft rented below.
(a) The Tenant hereby undertakes to compensate the lessor, his representatives, employees, successors and beneficiaries of the assignment (on the basis of tax) of and against all losses, damages, penalties, damages, claims, shares and actions, including legal costs, of any kind and nature arising from the aircraft or lease agreement , excluding losses, damages, penalties, damages, damages, rights and shares, actions or charges are due to gross negligence or intentional fault of the lessor (“claims”).